Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MAGIC and support deposit and withdrawal & Automated Market Making (AMM) on May 26, 2022 (UTC). And its trading pair MAGIC/USDT will be available on the same day.
1. Deposit: 03:00 May 26, 2022 (UTC)
2. Withdrawal: 03:00 May 26, 2022 (UTC)
3. Trading pair: MAGIC/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 May 26, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 May 26, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 May 26, 2022 (UTC)
Treasure is a decentralized NFT ecosystem on Arbitrum that is built specifically for metaverse projects. Every project listed on Treasure’s marketplace utilizes MAGIC in their respective metaverses, with each community inventing its own lore and storytelling for this resource. MAGIC, the native token of Treasure, is the sole currency for marketplace transactions. In this way, MAGIC acts as the reserve currency for the entire web of metaverses connected under the Treasure umbrella.
The central metaverse in Treasure is a place called Bridgeworld, where MAGIC is emitted and harvested. Bridgeworld utilizes a three-part resource economy:
· $MAGIC (Power)
· Treasures (NFT | Resources)
· Legions (NFT | Players)
Legions use treasures to mine for MAGIC and build larger forms of infrastructure and equipment. MAGIC is the resource that allows legions to quest and craft new items using treasures. The relationship between treasures and MAGIC is the equilibrium underpinning Bridgeworld.
MAGIC is an increasingly scarce resource needed to “power on” treasures and allow them to function as productive assets. Treasures produce the instruments and materials needed to continue mining MAGIC. This dance between treasures and MAGIC forms a base layer metaverse on which other metaverse economies can be built and connected.
Players can earn MAGIC through playing, mining, and participating in Bridgeworld. The Treasure ecosystem, therefore, is governed by MAGIC holders.
What is Automated Market Making (AMM)?
Automated market making (AMM) can calculate the buying and selling price according to the formula, so as to provide a continuous quotation for the market. CoinEx combines AMM with the order book, which means the liquidity pool will be automatically converted into the order book. With the "constant product market maker formula" algorithm in AMM, no matter how large the order book is or how small the liquidity pool is, firm liquidity provision to the market can be guaranteed. Learn more
Fees and Profit
Market supporting automated market making is an AMM market. Compared with normal market, AMM market adopts an independent fees system. The fees for both marker and taker is 0.3%, for market makers is 0.15%. VIP will not enjoy any special fees, and using CET for fees deduction is unavailable. All users are qualified to apply for market makers, and 50% of the market's transaction fees will be rewarded to liquidity providers.
Characteristics of AMM
1. Bonus obtainable from automated market making
User’s provided liquidity will be injected into the pool for automated market making. 50% of the market's transaction fees will be rewarded to liquidity providers in terms of the corresponding pool proportion.
2. Daily bonus can be cumulatively withdrawn
The transaction fee bonus will be calculated once a day and automatically credited into the user's Market Making Account before 4:00 (UTC) the next day. The user can obtain all the accumulated fee bonus after removing liquidity.
3. Free access, no charge required
Assets between Spot Account and Market Making Account can be transferred in real-time by adding and removing liquidity. Each user in a single market can increase liquidity twice a day, and no fees will be charged during the operation.
The assets in the Market Making Account will be injected Into the liquidity pool for automated market making. When the price fluctuates, there will be impermanent losses, and the amount of the two assets will change when the liquidity is removed. More details about impermanent losses
May 26, 2022